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Informist, Friday, Jun. 13, 2025

By Taniva Singha Roy

MUMBAI – Prices of edible oils were up in key markets across the country Friday, mainly due to correction in prices and lower arrivals, said traders. While prices of mustard and soybean rose, those of groundnut rose in some markets and were steady in a few, they said.

Prices of MUSTARD seed at Kota in Rajasthan rose by INR 200 to INR 4,250-INR 6,400 per 100 kilograms, as arrivals fell by 7,000 bags from the previous day to 10,000 bags, said Mahesh Sameriya, a trader from Rajasthan. Prices are likely to remain largely steady until there is demand for festivals, traders said.

All-India arrivals of mustard were at 450,000 bags, said Rajesh Patel of GGN Research. According to traders, mustard prices are expected to rise in the long-term due to likely lower production. The government's third advance estimates pegged mustard seed production for crop year 2024-25 (Jul-Jun) at 12.6 million tonnes, down from 13.3 million tonnes a year ago.

GROUNDNUT prices at Gondal in Gujarat rose by INR 500 to INR 4,700-INR 6,300 per 100 kilograms, with arrivals at 13,500 bags, said Ashok Virvani, a trader from Gujarat. Prices corrected after falling during the previous few days, said traders. However, the overall sentiment for groundnut is bearish and prices are seen falling or remaining at the current levels in the coming days. There is lower demand for groundnut due to import of palm oil at cheaper rates. Palm oil is generally used as a substitute for groundnut oil in cooking.

In Ratlam, Madhya Pradesh, groundnut prices were steady at INR 4,700-INR 5,800 per 100 kg, said Narendra Porwal, a local trader. Prices are unlikely to pick up until stocks procured by the government at minimum support price are not exhausted, traders said.

SOYBEAN prices in Gondal were up INR 100 at INR 3,800-INR 4,000 per 100 kg. Arrivals were down by 2,300 bags to 16,200 bags, Virvani said. The overall market sentiment is bearish as the Centre has cut the import duty on edible oils. The government had on May 30 cut the basic customs duty on major imported crude edible oils to 10% from 20%.

Prices of soybean in Ratlam, Madhya Pradesh were up by INR 50 per 100 kg at INR 3,800-INR 4,250 per 100 kg and arrivals were at 3,400 bags, said Porwal. However, prices are likely to continue to move down for the next three to four months, Virvani said.

End

Edited by Nishant Maher

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